E-commerce firm introduces cryptocurrency

An e-commerce firm has expressed its readiness to accept cryptocurrencies, such as Bitcoins, TheBillioncoin (TBC), as medium of payment for goods and services.

Bitcoin is a decentralised cryptocurrency used as means of exchange in some advanced countries.

KAVWIN Nigeria Limited Managing Director Dayo Okewole, described the firm as Nigeria’s first e-commerce company to accept cryptocurrencies as medium of payment for goods.

According to him: “Cryptocurrencies are decentralised currencies that are making transfer of money easier globally. There are countries, such as Japan that have legalised it as their national legal tender. In countries like United States, you can spend TBC in different shops. There are Automated Teller Machines (ATMs) around the world where you can cash in or cash out Bitcoin. Like any e-commerce company, you can shop on our website, paying with the Cryptocurrencies.”

He said Cryptocurrency was not created by the government or any organisation; rather it was created to make payment of goods and services easy.

He admitted that it faced a lot of criticisms in the early days but now it is widely accepted all over the world.

“We believe we should be futuristic in our thinking, In this part of the world we tend to be technology backward, for example, the first time I saw ATM machine was in a movie but now it is virtually everywhere in the country. We believe as futuristic Nigeria we should not relegate ourselves because the world is moving fast in technology. We should try as much as possible to pioneer leading to catch up with the world,” he said.